Well I'm pretty depressed - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

Shotz25 · 09-20-2012, 10:39 PM

So my Uncle told me since I drive him around so much he would help me get a zl1. After looking for weeks i found one that was MSRP. Went and started it up and fell in love. We went to get approved for the loan and when they ran his credit, we got turned down. turns out his ex wife ran up a 20,000 dollar bill in his name. I'm not getting a camaro for awhile its safe to say :(

Number23 · 09-20-2012, 10:43 PM

Cosigning a loan or having someone cosign a loan or you is a VERY bad idea. If you can't get it on your own, wait and save some more money.

Besides, if rumors are to be believed, the next gen Camaro will be lighter and with a DI engine.

Shotz25 · 09-20-2012, 10:47 PM

Quote:

Originally Posted by Number23

Cosigning a loan or having someone cosign a loan or you is a VERY bad idea. If you can't get it on your own, wait and save some more money.

Besides, if rumors are to be believed, the next gen Camaro will be lighter and with a DI engine.

No he would be putting it in his name. I'm young with no credit ha I run him around because he no longer has his license. I hope so i will be able to buy one myself in a a year or so.

Number23 · 09-21-2012, 07:27 AM

Putting aside the fact a lack of credit history is reason enough to wait, have you spoken to your insurance agent? I can't imagine what full coverage on a ZL1 would be for male under 25.

justa25thTA · 09-21-2012, 08:30 AM

poor kid, nobody to buy you a ZL1

silverds · 09-21-2012, 08:39 AM

Don't be depressed. It may be a blessing in disguise. The cost of ownership of a ZL1 is substantial. As a daily driver you might spend $4k a year in gas and $2k a year on tires and other consumables. Add to that insurance and payments and you'll find your car costs more then what most people pay on a mortgage.

DangerZL1 · 09-21-2012, 08:39 AM

I realize you want a ZL1, but I just turned 49 and a ZL1 is still a stretch when you have day to day living expenses, saving for retirement, mortgage, etc. Unless you have a great job or a lot of money saved up, it's not easy to purchase a $60k car for most foks. It wouldn't be a lot easier to purchase a V6 Camaro, or a 1SS at half the price.

babytiger · 09-21-2012, 08:41 AM

Quote:

Originally Posted by justa25thTA

poor kid, nobody to buy you a ZL1

^^^^ exactly

SPARTAN sui · 09-21-2012, 08:43 AM

If you're young with no credit, why not go with a V6?

I'm young and I have credit, however being financially responsible means a preowned V6 was my best option, so I went with that and I'm perfectly happy with my ride.

Ron66Vette&10SS · 09-21-2012, 08:43 AM

Quote:

Originally Posted by justa25thTA

poor kid, nobody to buy you a ZL1

DRKS1D3 · 09-21-2012, 09:05 AM

Quote:

Originally Posted by justa25thTA

poor kid, nobody to buy you a ZL1

Yea, I feel horrible too.

EvilZL1 · 09-21-2012, 09:11 AM

I told you that the credit would be the hardest part about getting the Z. You may have the income coming from multiple places, but if you dont have good or great credit when you walk on the lot dont expect to get the Z unless you put down 50k or the whole 60k. Go with the preowned 1ss or 2ss and pay it off then once its paid off mod it to be a Z like some other C5 members. Be easy on the young guy, guys. We all have those dream cars when coming up. Keep your head up and get any other camaro other than the Z since its way out of reach or wait another 2 years for the 2015-2016 model.

Gibroni · 09-21-2012, 09:16 AM

Lease a Volt.

ZZZ · 09-21-2012, 09:32 AM

I had a similar issue getting approved for the car I wanted a Transformers Edition. I had no credit whatsoever.

Ironically enough the car still cost 38k out the door used with the Gap Insurance and tax. 30k Sticker 13k Miles. I didn't get the car I wanted but I still got a nice V8 Camaro wrong color though

My income will have doubled next year and I am going to have all 30k of the loan paid off within a year.

Hopefully paying down a car within a year like that in addition to my income increasing so heavily will allow me the ability to put a little under half down on a ZL1 or something comparable.

If not I will wait another year for a bonus check and just get a Z06 or GTR probably.

09-20-2012, 10:39 PM	#1
Shotz25 Drives: 2011 F-150 XLT Join Date: May 2012 Location: oregon Posts: 25	Well I'm pretty depressed So my Uncle told me since I drive him around so much he would help me get a zl1. After looking for weeks i found one that was MSRP. Went and started it up and fell in love. We went to get approved for the loan and when they ran his credit, we got turned down. turns out his ex wife ran up a 20,000 dollar bill in his name. I'm not getting a camaro for awhile its safe to say :(

09-21-2012, 08:30 AM	#5
justa25thTA Drives: 2011 Camaro SS/RS LS3 Join Date: Aug 2010 Location: Texas Posts: 1,630	poor kid, nobody to buy you a ZL1 __________________ Yeah, I'll get around to it...

09-21-2012, 08:39 AM	#6
silverds 2015 SS 6M Drives: 2015 SS 6M Join Date: May 2012 Location: Charlotte, NC Posts: 561 View My Garage	Don't be depressed. It may be a blessing in disguise. The cost of ownership of a ZL1 is substantial. As a daily driver you might spend $4k a year in gas and $2k a year on tires and other consumables. Add to that insurance and payments and you'll find your car costs more then what most people pay on a mortgage. __________________

09-21-2012, 08:43 AM	#9
SPARTAN sui PC Technician Drives: 2016 Hyper Blue 2SS Join Date: May 2012 Location: North Dakota Posts: 2,161	If you're young with no credit, why not go with a V6? I'm young and I have credit, however being financially responsible means a preowned V6 was my best option, so I went with that and I'm perfectly happy with my ride. __________________

09-21-2012, 09:11 AM	#12
EvilZL1 Snake Eater Drives: 2012 AGM ZL1 Join Date: Oct 2011 Location: TN Posts: 2,737	I told you that the credit would be the hardest part about getting the Z. You may have the income coming from multiple places, but if you dont have good or great credit when you walk on the lot dont expect to get the Z unless you put down 50k or the whole 60k. Go with the preowned 1ss or 2ss and pay it off then once its paid off mod it to be a Z like some other C5 members. Be easy on the young guy, guys. We all have those dream cars when coming up. Keep your head up and get any other camaro other than the Z since its way out of reach or wait another 2 years for the 2015-2016 model. __________________ Build Thread: http://www.camaro5.com/forums/showth...95#post8351295 Make sure you don’t forget to subscribe to my channel! More content on the way. Like, share with your friends https://www.youtube.com/channel/UC9Z...sP2wjsLLFeP1zQ Follow me on instagram: http://www.instagram.com/snkeatr/

09-20-2012, 10:43 PM	#2
Number23 Drives: 2012 Boss 302 Join Date: Sep 2012 Location: United States Posts: 45 View My Garage	Cosigning a loan or having someone cosign a loan or you is a VERY bad idea. If you can't get it on your own, wait and save some more money. Besides, if rumors are to be believed, the next gen Camaro will be lighter and with a DI engine.

09-21-2012, 07:27 AM	#4
Number23 Drives: 2012 Boss 302 Join Date: Sep 2012 Location: United States Posts: 45 View My Garage	Putting aside the fact a lack of credit history is reason enough to wait, have you spoken to your insurance agent? I can't imagine what full coverage on a ZL1 would be for male under 25.

09-21-2012, 08:39 AM	#7
DangerZL1 Drives: 2023 Black ZL1 Auto Join Date: Oct 2009 Location: FEMA Region 4 Posts: 2,935	I realize you want a ZL1, but I just turned 49 and a ZL1 is still a stretch when you have day to day living expenses, saving for retirement, mortgage, etc. Unless you have a great job or a lot of money saved up, it's not easy to purchase a $60k car for most foks. It wouldn't be a lot easier to purchase a V6 Camaro, or a 1SS at half the price.

09-21-2012, 09:16 AM	#13
Gibroni Drives: '12 IOM LT 'vert Join Date: Jun 2011 Location: NEPA Posts: 646	Lease a Volt.

09-21-2012, 09:32 AM	#14
ZZZ Drives: 10 SS Camaro Join Date: Apr 2012 Location: Detroit Posts: 165	I had a similar issue getting approved for the car I wanted a Transformers Edition. I had no credit whatsoever. Ironically enough the car still cost 38k out the door used with the Gap Insurance and tax. 30k Sticker 13k Miles. I didn't get the car I wanted but I still got a nice V8 Camaro wrong color though My income will have doubled next year and I am going to have all 30k of the loan paid off within a year. Hopefully paying down a car within a year like that in addition to my income increasing so heavily will allow me the ability to put a little under half down on a ZL1 or something comparable. If not I will wait another year for a bonus check and just get a Z06 or GTR probably.